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CPA AA Exam With Confidence Using Practice Dumps

Exam Code:
AA
Exam Name:
Audit & Insurance
Certification:
CPA Other Certification
Vendor:
CPA
Questions:
80
Last Updated:
Dec 22, 2024
Exam Status:
Stable
CPA AA

AA: CPA Other Certification Exam 2024 Study Guide Pdf and Test Engine

Are you worried about passing the CPA AA (Audit & Insurance) exam? Download the most recent CPA AA braindumps with answers that are 100% real. After downloading the CPA AA exam dumps training , you can receive 99 days of free updates, making this website one of the best options to save additional money. In order to help you prepare for the CPA AA exam questions and verified answers by IT certified experts, CertsTopics has put together a complete collection of dumps questions and answers. To help you prepare and pass the CPA AA exam on your first attempt, we have compiled actual exam questions and their answers. 

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Audit & Insurance Questions and Answers

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Question 1

Panama and Co has been asked to take on the role of internal auditor at one of its clients and would be responsible for implementing its own recommendations.

Which of the following will NOT be considered by external auditors in their assessment of whether to use the work of internal audit?

Options:

A.

To whom the internal audit department of Panama and Co reports

B.

The technical training of the staff of the audit department of Panama and Co

C.

The fact that the fee will fall if much use can be made of internal audit work

D.

Whether internal audit work is properly documented

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Question 2

The production department of Cates Ltd is headed by Brad Hogg, whose deputy is Michael. Brad reports to the managing director, John Silver. There are several other departments namely sales and marketing, treasury, accounting, production, processing, purchasing, HR and internal audit.

Which of the following is the BEST method to make ‘purchase orders’ from production department?

Options:

A.

Brad Hogg and Michael should make purchase orders as production needs dictate.

B.

Brad Hogg should make purchase orders, although Michael could make requisitions as production needs dictate.

C.

Brad Hogg and Michael should send requisition for materials as production needs dictate, but orders should be placed by the purchasing department.

D.

Brad Hogg and Michael should send requisition for materials as production needs dictate but orders should be placed by the purchasing department, having been authorised by John Silver.

Question 3

Audit sampling is the application of audit procedures to less than 100% of items within a population of audit relevance such that all sampling units have a chance of selection in order to provide the auditor with a reasonable basis on which to draw conclusions about the entire population.

You are carrying out a review of payments to suppliers with the aim to identifying at least one instance of fraud. Which of the following would be the most appropriate sampling technique to use?

Options:

A.

Discovery sampling

B.

Haphazard sampling

C.

Attributes sampling

D.

Monetary unit sampling

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